Jorge A. Torres’ Post

Further tariffs on china will see this increasing

Borderlands Mexico: Mexican ports’ 2024 cargo volumes up 18% through April. Ports across Mexico moved a record 2.95 million twenty-foot equivalent units. Seaports across Mexico moved a record 2.95 million twenty-foot equivalent units during the first four months of 2024, according to statistics from Mexico’s General Coordination of Ports and Merchant Marine. That represents an 18.2% year-over-year increase. Mexico’s nine Pacific Coast ports handled the majority of container movements from January through April, totaling 2.14 million TEUs, a 19% y/y increase. Mexico’s two largest Pacific Coast ports — Manzanillo and Lazaro Cardenas — recorded a 14.5% y/y increase to 1.27 million TEUs and 35% y/y increase to 711,148 TEUs, respectively. #Mexico #exports #imports #customscompliance https://lnkd.in/gFrVC5Yp

Statistics from Mexico’s General Coordination of Ports and Merchant Marine reveal that seaports throughout Mexico handled a record-breaking 2.95 million twenty-foot equivalent units in the initial four months of 2024! This marks an 18.2% rise ⬆ compared to the previous year. The majority of container traffic, amounting to 2.14 million TEUs, was managed by Mexico’s nine Pacific Coast ports during the January-April period, reflecting a 19% increase year-over-year 🙌

The ranking of ports and #container #terminals in Latin America (in this case, the top 20) represented 84% of the total #throughput of the region in 2022. It is useful not only to follow up the volumes mobilised but also to have a historical perspective of the dynamism of the #port activity and the changes observed year after year.  Read the interesting report about the #top20 ranking of the #ports or port areas of Latin America by #PortEconomics member Ricardo J Sanchez along with Eliana P. Barleta. https://lnkd.in/gg8PqgfP

CHINA PORTS IN LATIN AMERICA - (2 Clips) - 1. Chinese port on Peru's Pacific coast is 98% built, according to authorities and managers - A giant Chinese state-owned port that will shorten South American voyages to China and use automated, pilotless cranes and container ships is 98% complete, Peruvian authorities and local company managers said on Tuesday - https://lnkd.in/eaT4xzfR? 2. The $3bn scheme to build the Peruvian port of Chancay is on track to complete next month, Reuters reports. - A local executive of the Chinese shipping company Cosco said the inauguration would take place in the middle of November, after which a route would begin operating to Shanghai, consisting of two container ships a week. - Other routes will be added, eventually turning Chancay into a major hub for trade between South America and East Asia. - Peru’s $3bn mega port to start operations next month - President Xi Jinping of China is expected to attend the opening ceremony. The port will aggregate cargo carried on relatively small container ships from Colombia, Ecuador and Chile and transport them to Asia in “ultra large” carriers, which can accommodate between 14,500 and 24,000 containers. - State-owned Cosco Shipping Ports will own the port and will operate it with a 60% stake, with the remaining 40% held by Peruvian miner Volcan, controlled by Swiss company Glencore. https://lnkd.in/eUzCpDeM

Strategic Expansion: China’s $3 Billion Chancay Port Nears Completion in Peru, Strengthening Latin American Trade Routes China's ambitious maritime infrastructure project on Peru's Pacific coast, the Chancay Port, is nearing completion, with 98% of construction finalized, according to local Peruvian authorities and Cosco, the Chinese state-owned shipping company leading the project. With an expected inauguration in mid-November, the $3 billion port facility will become a strategic link between South America and Asia, positioning itself as a significant hub for Sino-Latin American trade. Upon completion, Chancay will use advanced automated systems, including pilotless cranes and container ships, to streamline port operations and cut transit times for South American exports bound for China. This fully modernized port will aggregate cargo from smaller vessels originating in Colombia, Ecuador, and Chile, and transfer these to ultra-large container carriers capable of holding up to 24,000 containers for direct routes to Asia. Strategically located on the Pacific, Chancay offers a shortened, efficient route for South American goods, strengthening China’s foothold in Latin America’s maritime logistics and enhancing its access to the continent’s natural resources and agricultural products. Cosco Shipping Ports, a state-owned enterprise, will own and operate the port with a 60% share, while Peruvian mining firm Volcan, largely controlled by Swiss-based Glencore, holds the remaining 40%. As China deepens its infrastructure investments across Latin America, the Chancay Port highlights a growing maritime strategy designed to secure vital trade routes, reduce logistical costs, and integrate Latin American markets more closely with East Asia. President Xi Jinping is expected to attend the inauguration, underlining the port’s geopolitical and economic importance as a pivot in China’s expanding Belt and Road Initiative and demonstrating Beijing’s sustained commitment to enhancing its global influence through strategic port developments. This port is set to shift regional trade dynamics, positioning Chancay as a cornerstone of South America’s Pacific trade, consolidating China’s role as a central player in global supply chains, and expanding its naval and economic presence across the region. #templartitannews

Global Shipping Lines Extend Vessel-Sharing Agreement The renewed pact by #OceanAlliance members comes as carrier earnings are sliding and operating agreements are getting scrambled * Four major shipping lines from Asia and Europe have agreed to extend their cooperation by continuing to share vessels until 2032. * The agreement is known as the Ocean Alliance and was formed in 2017. * The extension of the agreement adds stability to the network of shipping alliances, which has been in flux since Maersk Line and Mediterranean Shipping announced in January they would end their 2M Alliance operating agreement next year. * Maersk and Hapag-Lloyd are forming a new alliance called Gemini. * Hapag-Lloyd will leave the THE Alliance next year. Key points: * The agreement allows the companies to reduce costs and expand their services by sharing #vessels. * The agreement provides stability in the #shipping industry. The Wall Street Journal https://lnkd.in/db26pdMf

Despite the large tranches of new container shipping capacity hitting the water in recent months, Asia-Europe services are still short of ships to the tune of almost 10%, according to new research from Alphaliner. The analyst said that as a result of the Red Sea crisis and diversion of vessels around the Cape of Good Hope, the number of ships needed to maintain weekly service frequency from Asia to Europe had risen from the 321 needed for the 27 services offered this time last year, to 376 required to operate the current 25 services. However, there are just 340 ships deployed on Asia-Europe services by the three alliances, leaving a shortfall of some 36 on the trades to Northern Europe and the Mediterranean.

Asia-Europe shippers sail into contract talks with Red Sea top of agenda Asia-Europe shippers are preparing for 2025 contract talks with a focus on the impact of Red Sea disruptions, which could keep rates high until mid-next year if Suez Canal transits don’t resume. Carriers avoiding the Red Sea route due to safety concerns have led to capacity issues and rising rates, though a potential return to the Suez could drive rates down sharply. Many shippers are structuring contracts flexibly to adapt to any changes in routing and rates. Meanwhile, current spot rates from Asia to Europe have surged ahead of a mini-peak season and earlier Lunar New Year, with blank sailings also helping to maintain elevated rates. Stay Informed: https://lnkd.in/ec4ux3mi

🚢 Navigating New Horizons: The Strategic Evolution of Global Shipping Alliances 🌐 In a significant move that underscores the adaptability and forward-thinking of the global shipping industry, the Ocean Alliance—comprising Cosco Shipping, CMA CGM, Evergreen Marine, and Orient Overseas Container Line—has announced an extension of their collaboration through 2032. This decision marks a pivotal step towards ensuring continuity, stability, and enhanced service delivery amidst fluctuating market conditions. Simultaneously, the maritime world is set to witness the launch of the Gemini Alliance in 2025, a groundbreaking partnership between Maersk Line and Hapag-Lloyd. This alliance represents a strategic realignment, pooling resources and capacities to forge a path toward operational excellence and improved global reach. These developments come at a critical time as the shipping industry seeks to rebound from the challenges posed by excess capacity, declining freight rates, and the recent upheavals due to geopolitical tensions. The extension of the Ocean Alliance and the formation of the Gemini Alliance are not just strategic maneuvers but also a testament to the industry's resilience and commitment to innovation. As we chart the course ahead, these alliances are poised to play a crucial role in shaping the future of global trade, emphasizing the importance of collaboration and strategic partnerships in building a more efficient and sustainable shipping ecosystem. #sclt4380 Gulshan Singh, PhD Margaret A. Kidd, CMILT, CPE™ https://lnkd.in/gvU6yEJc